Universal Medical (2666.HK) Announces 2022 Interim Results ACN Newswire

Universal Medical (2666.HK) Announces 2022 Interim Results

August 31, 2022
HONG KONG, Aug 31, 2022 - (ACN Newswire via SEAPRWire.com) - The board of directors of Genertec Universal Medical Group Co Ltd (the "Company" or "Universal Medical"; Stock code: 2666.HK) is pleased to announce the interim results of the Company and its subsidiaries (together, the "Group") for the six months ended 30 June 2022. Facing with various unexpected factors emerged during the first half of 2022, while making unwavering efforts to lead the subordinate medical institutions in its proactive commitment to fighting against the pandemic, the Group adhered to its established business strategies by continuing to move forward in the field of medical and healthcare, and steadily promoted its business and improved its overall operating performance.In the first half of 2022, the Group recorded a revenue of RMB5,712.3 million, representing an increase of 14.1% as compared to the corresponding period of the previous year; recorded a net profit of RMB1,176.4 million, representing an increase of 4.5% as compared to the corresponding period of the previous year; recorded a net profit attributable to owners of the parent of RMB1,089.4 million, representing an increase of 3.8% as compared to the corresponding period of the previous year; recorded return on total assets (ROA) of 3.20%, and return on equity (ROE) attributable to owners of the parent of 16.51%. The indicators of income maintained a steady performance and the asset quality was generally safe and controllable.The Profit of Hospital Group Increased by 13.7% While Accommodating the Needs for Pandemic ControlHospital group is the essential resources of building a healthcare conglomerate. Having been actively participating in integration and takeover of medical institutions of SOEs since 2017, the Group continued to expand its hospital group business, and orderly advanced its post-investment management to better accommodate the needs for pandemic control of SOE-owned hospitals. The Group also continuously enhanced the three core capabilities of "discipline", "operation" and "service", with an aim to build overall advantages of the hospital group in terms of safety, effectiveness, accessibility, and humanities as a way to promote high-quality development of hospitals of SOEs. Moreover, relying on the development foundation of the hospital group, the Group expanded business layout in various fields including medical service, life cycle management of medical equipment, medical testing, internet-based healthcare services, health and wellness and insurance, and actively expanded external customers while efficiently serving the Group's member hospitals to gradually lay a foundation for development in scale.With the implementation of group management and control of hospitals, the core capabilities of disciplines, operations and services have been gradually improved to lay the groundwork for sustainable growth trends in the medical business. In the first half of 2022, facing with the frequent outbreaks and pandemic rebound in certain cities, its medical institutions made proactive response to the relevant requirements of the government regarding pandemic prevention and control by undertaking a great number of nucleic acid testing and vaccination tasks. Under the temporary operation pressure of staff shortage and increasing costs for pandemic prevention and control, the Group maintained overall stable profitability in the first half of 2022 through measures such as increasing volunteer medical consultation and featured services to boost business volume and reinforce refined operation.In terms of consolidated revenue, in the first half of 2022, the hospital group business (excluding hospital investment platforms) recorded revenue of RMB2,721.1 million during the consolidation period, representing an increase of 28.4% as compared to the corresponding period of the previous year, mainly due to the consolidation of additional medical institutions during the period, and recorded profit for the period of RMB112.6 million, representing an increase of 13.7% as compared to the corresponding period of the previous year. The gross profit margin from operations was 12.1%, and net profit margin was 4.1%.In terms of operations, in the first half of 2022, the Group consolidated the accounts of six additional medical institutions with a capacity of 2,507 beds in total; the total number of medical treatments in the 51 consolidated medical institutions of the Group was approximately 5,446,000, representing an increase of approximately 52.2% as compared to the corresponding period of the previous year. The number of outpatient and emergency visits amounted to approximately 4,951,000, representing an increase of approximately 57.1% as compared to the corresponding period of 2021, which was mainly attributable to the significant increase in the outpatient visits for nucleic acid test during the first half of 2022. Without taking into account of the impact of nucleic acid visits, the number of outpatient and emergency visits still outperformed that of the corresponding period of the previous year by approximately 6%. The number of inpatient visits based on discharges amounted to approximately 160,000, remaining basically in line with that of the corresponding period of 2021, which was mainly due to the frequent outbreaks of covid-19 pandemic across the country during the first half of 2022. Meanwhile, with the continuous expansion of the medical examination business operated by its medical institutions, the number of visits for medical examination reached approximately 495,000 in the first half of 2022, representing an increase of approximately 15.9% as compared to the corresponding period of 2021. The revenue of hospital operation of the 51 consolidated medical institutions for the first half of 2022 reached RMB2,694.9 million in total, representing an increase of approximately 8.8% as compared to the corresponding period of the previous year, and the overall income per bed of the consolidated medical institutions was approximately RMB420,000 on an annualised basis.Following the integration and takeover of medical institutions of SOEs since 2017, the Group continued to empower the development of the hospitals and took active and effective measures in response to external factors such as the pandemic and reforms. In the future, in order to serve the national healthcare initiative and in the trend of high-quality development of the medical industry, the Group will give full play to the competition advantages of central state-owned enterprises in running medical care by reinforcing group management and control and upgrading professional operation, further improving the operating efficiency of medical institutions.Meanwhile, by fostering hospital group, the Group will also further build replicable advantages in terms of hospital operation management, life cycle management of medical equipment, supply chain management, infrastructure management and digital services, expand the market presence in addition to the health conglomerate and cultivate the new service mode featured with the integration of industry and finance, so as to promote quality and efficiency enhancement for external hospital customers and create new growth drivers for the Company.The Interest Income of Financial Business Increased by 5.7% under the Efforts to Overcome the Impact of Ongoing PandemicIn the first half of 2022, the Group strived to overcome the impact of ongoing pandemic. With risk control as a top priority, the Group were committed to ensuring quality project development for its customers, with an aim to ensure safe and healthy development of the finance business. By keeping abreast of the market changes, the Group strived to control financing costs with a flexible approach to meet investment capital requirements. In the first half of 2022, the finance and advisory business of the Group recorded a revenue of RMB2,987.8 million in total, representing an increase of 3.4% as compared to the corresponding period of the previous year, of which the interest income amounted to RMB2,391.1 million, representing an increase of 5.7% as compared to the corresponding period of the previous year. All business indicators continued to maintain a good level. The average yield of interest-earning assets was 7.46% and the average cost rate of interest-bearing liabilities was 3.71%, while the net interest margin was 3.75% and the net interest spread was 4.16%.While its finance business continued to expand steadily, the Group continued to optimize the dynamic management of pre-rental, rental, and post-rental process, and enhanced accountability to ensure its asset quality remaining at an industry-leading level. As of 30 June 2022, its net interest-earning assets reached RMB65,804.8 million, representing an increase of 7.7% as compared to the end of 2021; the non-performing asset ratio was 0.98%; the overdue ratio (30 days) was 0.82%, and the provision coverage ratio was 242.96%.While keeping a controllable risk profile, the Group will continue to facilitate steady development of the finance leasing business in the fields of public hospitals and urban public utility. Leveraging on the core businesses of the central state-owned group and in an active response to the national policies, the Group will continue to foster and expand innovative businesses. The Group will explore a development model featured with the integration of finance business and medical care industry so as to lay a solid foundation for the high-quality development of a central state-owned and listed enterprise and achieve a leapfrog growth in the operating results.About Genertec Universal Medical Group Co LtdGenertec Universal Medical Group Co., Ltd. ("Universal Medical"; 2666.HK) is a publicly listed state-owned enterprise committed to China's healthcare industry. China General Technology (Group) Holding Co Ltd., one of the backbone SOEs directly supervised by the central government is the controlling shareholder of the Company. Universal Medical focuses on the fast-developing healthcare industry in China, with medical services as the core and financial business as the foundation. The Company harvests modern management concepts, professionals, quality medical resources with solid financial strength, and an inclusive corporate culture. Altogether it strives to build a reliable healthcare conglomerate and develop a healthcare ecosystem that all can mutually share and benefit. The Company owns 63 medical institutions, distributed in 14 provinces and municipalities such as Shaanxi, Shanxi, Sichuan, Liaoning, Anhui, Hebei, Beijing, and Shanghai, including 5 Grade III Class A hospitals and 29 Grade II hospitals, with a total of more than 16,000 beds. In the future, Universal Medical will continue to grasp opportunities posed by China's healthcare sector, actively respond to the "Health China" program and make contributions to China's public health industry. Please visit https://en.umcare.cn/.This press release is released by PEANUT MEDIA LIMITED on behalf of Genertec Universal Medical Group Company Limited.For further information, please contact:PEANUT MEDIA LIMITEDLu Jing / Jing GaoDirect Line: +86-755-61619798 +8210Email: hswh@czgmcn.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Esprit Announces Interim Results for FY2022 ACN Newswire

Esprit Announces Interim Results for FY2022

August 31, 2022
HONG KONG, Aug 31, 2022 - (ACN Newswire via SEAPRWire.com) - ESPRIT HOLDINGS LIMITED (the "Company", together with its subsidiaries, the "Group" or "Esprit", HKEx: 00330) has announced its unaudited financial interim results for the six months ended 30 June 2022 (the "Period"). The Group has recorded total revenue of HK$3,626 million for the Period, as compared to the total revenue of HK$3,872 million for the six months ended 30 June 2021 (the "Corresponding Period"), representing a decrease of 6%. The decrease in revenue was primarily due to the depreciation of the Euro against the Hong Kong dollar. If the revenue for the Period were to be translated by the exchange rate for the Corresponding Period, the revenue would be HK$3,934 million which would have been an increase of 2% from the Corresponding Period. Meanwhile, gross profit margin was 45.8%, marginally lower than the corresponding figures of 46.9% for the Corresponding Period. As a result, the Group recorded an unaudited profit attributable to the shareholders of the Company of HK$13 million for the Period (for the six months ended 30 June 2021: HK$121 million), marking the second consecutive profitable half-year since the financial year ended 30 June 2017. The decrease in profit in the Period in comparison to the Corresponding Period is mainly attributable to the decrease in revenue resulting in the corresponding drop in gross profit; and foreign exchange translation losses of HK$99 million was incurred for the Period as compared to foreign exchange translation gains of HK$87 million for the Corresponding Period.Mr. PAK William Eui Won, Executive Director and Chief Executive Officer, said, "There have been many challenges persisting throughout the first half of 2022, but attributing the success to the Group's dynamic corporate structure, management team, and dedicated staff at ESPRIT, they have been playing a core role for the Company to navigate through such a tough environment and remain marginally profitable during the Period. I am pleased to say that the strategies and infrastructure mentioned in the 2021 Annual Report is showing consistent positive results and profitable growth, forming a solid platform for future expansion to new markets. Given a financially strong and healthy balance sheet, the Company will continue to invest whenever good opportunities arise."Esprit is a unique retail brand with great history and tradition. The Company continues to look deep into its roots, the brand DNA, while building a bright and successful future via some positive initiatives which include: (1) investing significantly in rebuilding Esprit's brand equity, re-establishing and improving the Esprit brand image to be achieved through active collaborations with highly reputable industry creatives, cross brand partnerships, influencer design capsules, and sustainability events; (2) putting and accelerating Esprit at the forefront in digitalization for the retail and high fashion business by improving trading ability for the European website, upgrading internal digital capabilities, establishing an innovative hub - Esprit Futura - in Amsterdam, and launching website and digital commerce platforms in the USA, Canada, Central America and South America; (3) demonstrating the Company's well-known and longstanding commitment to be at the forefront of being a socially responsible corporate citizen in areas such as the environment and sustainability; and (4) re-entering numerous key Asian markets, including Hong Kong, Korea, Taiwan, and the Philippines, in addition to pop-up stores, proprietary websites and partners' portals. Mr. Pak stressed, "The brand's return to Hong Kong and re-entry to Asia is one of the strategies in repositioning Esprit as an international brand with omnipresence and relevance to its customers. This combined with the improvements to Esprit such as product offering, marketing, and digital content, aims to put the Company back on track to regaining market position and consistent sustainable growth."Looking ahead, the Company is determined to march on towards persistent and sustainable profitable growth. Through the remainder of the year, the Group will continue to focus on initiatives to drive sales, enhance operational efficiency, paying particular attention to the fading effects of the COVID-19 pandemic and optimizing the cost structure in order to improve the overall performance of the business. In the long term, the Group's strategic focus will be on revival of the great Esprit brand, bring satisfaction to our customers through enjoyable and convenient shopping experience, quality but reasonable priced products, and a well-thought-out omni-channel for sales delivery.Ms. CHIU Christin Su Yi, Executive Director and Chairperson, concluded, "While unsettling external factors may somewhat affect the business, the financial results of the Company during the Period demonstrate that with bold actions, agility and hard work, the Company was able to continuously and consistently march towards a brighter and exciting future. The Company remains cautiously confident and optimistic about the near future and will continue staying focused and connected to ensure it can adapt and react to the changing and challenging environment as efficiently as possible."About ESPRITFounded in California in 1968 by Doug Tompkins and Susie Buell, ESPRIT was the world's first lifestyle brand inspired by the human spirit. But more than a birthplace, California represents the brand's sensibility: positive, upbeat, and easy-going. Embracing a larger-than-life attitude that is both experimental and pioneering, with a youthful state-of-mind fueled by creativity and a love of design. The successes of ESPRIT over the years is due by and large to its original ideals: promoting love and peace, celebrating people, and bringing like-minded folks together to deliver joy to the world. This is the true essence of "ESPRIT de corps." ESPRIT is a true hybrid of relevant dressing essentials and fashion-forward styles fit for every occasion and every wardrobe. Conscious and committed, the brand is lauded for its passion for people and the planet. Example: In the mid-80s, ESPRIT made headlines with its "Real People" campaign that featured employees and customers instead of models, and in the early 90s, debuted its first "eCollection" made of 100% organic cotton. The first authentic brand of its kind, ESPRIT was also known for its revolutionary shopping experience, embodying its vibrant spirit in every way and in every detail. Keeping this spirit alive, ESPRIT today has a presence in more than 30 markets around the world. The Group has been listed on the Hong Kong Stock Exchange since 1993, and ESPRIT's international headquarters is located in Hong Kong.https://www.esprit.hk/The information contained herein is not a public issuance of securities. These materials do not contain or constitute an offer of securities for sale in the United States or to any "U.S. Person" as defined in Regulation S under the United States Securities Act of 1933, as amended (the "Act"). The securities referred to herein have not been and will not be registered under the Act, and may not be offered or sold in the United States absent registration under such Act or an available exemption from it.Forward-Looking StatementsThis press release contains certain forward-looking statements. Such forward-looking statements are subject to various risks and uncertainties, including without limitation, statements relating to our plans to transform the Company's business, make a significant investment in our businesses and achieve sustainable profitability in the future, and other risks and factors identified by us from time to time. Although the Group believes that the anticipations, beliefs, estimates, expectations and/or plan stated in this document are, to the best of its knowledge, true, actual events and/or results could differ materially. The Group cannot assure you that those current anticipations, beliefs, estimates, expectations and/or plan will prove to be correct and you are cautioned not to place undue reliance on such statements. The Group undertakes no obligation to publicly update or revise any forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited or any other applicable laws and regulations. All forward-looking statements contained in this document are expressly qualified by these cautionary statements. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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PLS Plantations PAT up by 109.6% ACN Newswire

PLS Plantations PAT up by 109.6%

August 30, 2022
KUALA LUMPUR, Aug 30, 2022 - (ACN Newswire via SEAPRWire.com) - PLS Plantations Berhad recorded a net profit after tax (PAT) of RM35.0 million, a strong conclusion to the financial year ended 30 June 2022 (FY2022). This represents an increase of 109.6% compared to RM16.7 million in the preceding financial year ended 30 June 2021 (FY2021). Total revenue for FY2022 stood at an all-time high of RM184.1 million, up 36.5% compared to RM134.8 million in FY2021 driven by increased sales and higher average selling prices of fresh fruit bunches (FFB).Annual PAT was further moderated by several factors, including the recognition of fair value loss in biological assets of RM5.2 million compared to a RM1.4 million gain in the preceding quarter (Q3FY2022), higher tax, administration expenses, and a one-off provision for doubtful debt in the manufacturing and trading segment which the Company incurred in the last quarter of FY2022.Net profit after tax and minority interest (PATMI) for the year stood at RM27.3 million, up 118.4% from RM12.5 million in the preceding financial year. The positive performance was mainly due to the improved quarter on quarter (QoQ) revenue of RM44.8 million up by 41.8% from RM31.6 million in the corresponding quarter for the period ended 31 June 2021 (Q5FY2021).For the fourth quarter ended 30 June 2022 (Q4FY2022), PLS Plantations saw a dip in its PBT to RM4.8 million or 12.7% lower compared to RM5.5 million in Q5FY2021. Overall QoQ PAT saw a decrease to RM0.6 million, a decrease of 82.5% compared to RM3.7 million in the corresponding quarter last year. Earnings per share (EPS) currently stands at -0.10 sen (diluted) compared to 0.65 sen last year.PLS Plantations Group CEO Lee Hun Kheng said, "It has been an eventful year for PLS Plantations. In addition to diversifying the business into different cash crops, we are also building our distribution channels and diversifying into downstream products, specifically into durian consumer products. We are focused on rolling out our Agropreneur Programme and building the Integrated Agrotech Park. Our collaboration with both the Federal and State Government and ecosystem partners will be the backbone of our efforts to play a role in strengthening the local agrofood ecology and network which will contribute to the nation's overall food security. Over the coming months, we will be executing a series of partnerships that will allow PLS to fast track our crop diversification efforts - specifically intercropping and cash crops."The key initiatives for FY2022 initiated by PLS Plantations as part of its plan to become the nation's leading sustainable agrofood company are:i. a joint venture with Landasan Erajaya Sdn Bhd ("LESB") on a proposed collaboration to undertake intercropping with cash crops, durian and other forest plantation activities;ii. signing of Memorandum of Understanding ("MoU") with the Ministry of Agriculture and Food Industries ("MAFI") to conduct an in-depth study and put forward a proposal for the national food security agenda; andiii. launched the PLS Agropreneur Programme and PLS Integrated Agrotech Park to strengthen the local agrofood ecosystem.About PLS Plantations BerhadPLS Plantations was incorporated in Malaysia in 1987 and was listed on the Second Board of Kuala Lumpur Stock Exchange in 1995. Currently listed on the Main Board of Bursa Malaysia Securities Berhad, PLS and its subsidiaries are involved in the management and operation of forest, oil palm and durian plantations, as well as the processing, distribution and sale of durian products.Forward-Looking StatementsThe statement included in this press release, other than statements of historical facts, are forward-looking statements. Forward-looking statement generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "plan," "seek," or "believe." These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations about future event. There are important factors that could cause our actual results, level of activity, performance, or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statement, including, but not limited to our ability to win additional business. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future result, level of activity, performance, or achievements. You should not rely upon forward-looking statements as predictions of future events. These forward-looking statements apply only as of the date of this press release; as such, they should not be unduly relied upon as circumstances change. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstances occurring after the date of this release or those that might reflect the occurrence of unanticipated events. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Minetech’s Revenue for 1Q Rises 43.0% to RM24 Million ACN Newswire

Minetech’s Revenue for 1Q Rises 43.0% to RM24 Million

August 25, 2022
KUALA LUMPUR, Aug 25, 2022 - (ACN Newswire via SEAPRWire.com) - Minetech Resources Berhad, a civil engineering specialist and bituminous products manufacturer, today announced that the Company registered a 43.2% rise in revenue for the first quarter ended 30 June 2022 (1Q FY2023) to RM24.05 million compared with RM16.80 million in the corresponding quarter of the last financial year (1Q FY2022).Matt Chin, Executive Director of MinetechFor the quarter under review, the Company recorded a loss before tax (LBT) of RM1.66 million compared with LBT of RM4.35 million in 1Q FY2022.On a segmental basis, Minetech's civil engineering division posted revenue contribution of RM13.7 million for 1Q FY2023, a gain of 34.3% compared with RM10.2 million in 1Q FY2022. The manufacturing division, which produces bituminous products for pipe coating, waterproofing and sealing, recorded revenue contribution of RM5.85 million, a gain of 75.1% compared with RM3.34 million in 1Q FY2022.Matt Chin, Executive Director of Minetech, said, "The civil engineering division's contribution was supported by higher revenue from the Selinsing Gold Mine in the quarter under review compared to the corresponding quarter of the previous financial year as production regained traction while the manufacturing division saw a significant rise in revenue due to an increase in sales as a result of improved demand from water piping and road paving projects.""Recent news flow point to firmer domestic economic growth and the announcement of the MRT3 project together with the continuation of other large civil infrastructure projects is positive for the construction sector as there will be need for civil engineering services as well as bituminous products.""We will continue to be vigilant given the more challenging global economic outlook. We have rationalised our corporate structure and in recent years diversified into other businesses to enhance our financial performance while ensuring more stable recurring income. Our narrower losses for the quarter are a result of these measures."Minetech Resources Berhad: 7219 [BURSA: MINE], https://minetech.com.my/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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